NEOEN

Neoen Doubles the Size of Revolving Credit Facility With Redbridge

Challenge

Neoen was preparing to refinance its existing $277m syndicated facilities ahead of its 2026 maturity to support ongoing growth and needed data-driven advice. The challenge was to double the size of the existing facility, increase the revolving credit facility (RCF) tranche, maintain competitive margins, ensure documentation compatibility with other financings, and uphold the “Sustainability Linked” status of the facility while facing declining market conditions.

Solution

Redbridge helped Neoen conduct a preliminary analysis of their credit positioning and constraints, followed by a pre-sounding of banks to refine the target Term Sheet. A comprehensive information package was prepared for potential lenders, & Redbridge managed the entire lender consultation process, including Q&A management & assistance during the negotiation of the final facility agreement. This approach was designed to ensure the facility’s expansion while aligning with Neoen’s strategic financial and sustainability goals.

Results

The refinancing effort resulted in an oversubscription of 135%, which allowed fine-tuning of final allocations and expansion of the bank pool. The RCF tranche was increased to 40% from 30%, with limited repricing of margins despite challenging market conditions. The documentation was crafted to be flexible, ESG-compatible, and supportive of additional debt capacity, fully aligning with Neoen’s growth trajectory and sustainability commitments.